nectmeducation.com/flow/connect.html Final Exam Johnson Inc's non-strategic investment portfolio at December 31, 2019, consisted of the following: Debt and Equity Investments 11.5 Xavier Corp. o on shares 2,000 young inc. common shares 135,000 Zed Corp. Common shares Cost $158.025 Fair Value $166,750 40.100 The fair value adjustments were recorded on December 31, 2019 Johnson had no other debt and equity investments at December 31, 2019, other than those shown above. During 2020, Johnson engaged in the following transactions Jan. 17 Sold 1,500 c on care of Young Inc. for $72,000. Johnson Inc. planned to hold these shares for less than one year. Her Purchased 6.500 common shares of Allen Corp. for $390,000. The shares represent 30% ownership in Allen Corp. June 7 Received dividends from Allen Corp. at the rate of 54.00 per share Aug. 14 sold the remaining Young Inc. shares at $33.00. Nov. 28 Purchased a w nership in Davis Corp. by acquiring 11.500 c on shares at a total of $102,350. Johnson Inc. will sell these shares in six to nine months. Deco Sold 11.500 shares of Xavier Corporation for $150,000 Dec.31 Allen Corp. announced a profit of $287.500 for the year Required: Journalize the above transactions View transaction ist Journal entry worksheet